CBN Hands Over High-Impact Intervention Projects to University of Abuja

The Central Bank of Nigeria (CBN) has formally transferred its High-Impact Intervention Projects at the University of Abuja to the University Management, handing over full responsibility for their completion and delivery.

The projects, which are at varying stages of completion, include the Faculties of Science and Engineering complexes, Information and Communication Technology (ICT) centres, postgraduate and clinical hostels, as well as other academic and support facilities on the University’s main campus.

The handover took place on Monday, January 26, 2026, at the CBN Headquarters in Lagos, with the University of Abuja represented by its Vice-Chancellor, Professor Hakeem Babatunde Fawehinmi. The intervention projects were initiated by the CBN in 2014 as part of efforts to support infrastructure development in tertiary institutions across the country.

In a statement signed by the Minister of Education, Dr. Tunji Alausa, beneficiary institutions were directed to take immediate and appropriate steps to ensure the completion of the projects. He noted that institutions are expected to engage directly with contractors and consultants to facilitate efficient project execution and timely delivery.

The handover followed a high-level meeting convened by the Minister of Education in 2025, which brought together representatives of the CBN, the Tertiary Education Trust Fund (TETFund), and heads of beneficiary institutions. At the meeting, the CBN announced its decision to transfer both the assets and associated liabilities of its intervention projects to the respective institutions to accelerate completion and utilisation.

The move is expected to enhance institutional ownership, improve project oversight, and fast-track the delivery of critical infrastructure within Nigeria’s tertiary education system.